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Fly News Breaks for August 26, 2016
GME
Aug 26, 2016 | 08:53 EDT
After GameStop reported lower than expected comparative sales, Wedbush analyst Michael Pachter says that the company's comp sales were "disappointing." However, the analyst expects the company to benefit from strong new games set to be released n 2H16 as well as new hardware devices. He says that the company's valuation is "compelling," while its EPS, boosted by share repurchases, can reach $5. The analyst keeps a $36 price target and Outperform rating on the stock.
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